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Impairment and Restructuring Charges (Tables)
3 Months Ended
Mar. 31, 2024
Restructuring Charges [Abstract]  
Schedule of Impairment and Restructuring Charges by Segment and Rollforward of Restructuring Accrual
Impairment and restructuring charges by segment are comprised of the following:
For the three months ended March 31, 2024:
Engineered BearingsIndustrial MotionTotal
Severance and related benefit costs$0.7 $1.3 $2.0 
Exit costs0.3 — 0.3 
Total$1.0 $1.3 $2.3 
For the three months ended March 31, 2023:
Engineered BearingsIndustrial MotionTotal
Impairment charges$— $28.3 $28.3 
Severance and related benefit costs0.7 (0.1)0.6 
Total$0.7 $28.2 $28.9 
The following is a rollforward of the consolidated restructuring accrual for the three months ended March 31, 2024 and twelve months ended December 31, 2023:
March 31,
2024
December 31,
2023
Beginning balance, January 1$5.8 $3.1 
Expense2.3 12.3 
Payments(4.6)(9.6)
Ending balance$3.5 $5.8